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Chinese baijiu (sorghum liquor) distiller behind the Laobaigan brand, sold mainly in Hebei and northern China.
Chinese baijiu (sorghum liquor) distiller behind the Laobaigan brand, sold mainly in Hebei and northern China.
Sells baijiu mainly through distributors to restaurants, banquets and gift buyers in Hebei and northern China, a local market where brand recognition is what sells. Its sales are concentrated in one regional market, and the mix between cheaper and premium bottles decides earnings per bottle.
In one line: A smaller, regional Chinese Jack Daniel's.
Moat: narrow (brand, distribution). Century-old regional brand with entrenched northern-China banquet/gifting distribution.
Headquarters: Hengshui, China · Employees: 7,223
Size Hebei Hengshui Laobaigan Liquor (600559.SS) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $1.64B, the 1506th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.97 on 6 Nov 2026.
Performance Over six months the shares fell 11.8%, against -7.1% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 16.9% over the last twelve months (peer median -3.2%); the operating margin is 11.3% (peer median 11.2%).
Valuation It trades at 30.7× forward earnings against a peer median of 28.4× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +12 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.5 points above its cost of capital (9.6% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.82B | CN¥3.43B | CN¥4.51B | CN¥4.42B | CN¥3.94B |
| Revenue growth | — | -24% | +2% | +12% | — |
| Gross profit | CN¥2.52B | CN¥1.96B | CN¥2.62B | CN¥2.63B | CN¥2.40B |
| EBITDA | n/a | CN¥667M | CN¥1.15B | CN¥977M | CN¥772M |
| Net income | CN¥358M | CN¥430M | CN¥787M | CN¥666M | CN¥708M |
| Free cash flow | CN¥191M | -CN¥334M | CN¥413M | CN¥682M | CN¥292M |
| Capital expenditure | CN¥68.7M | CN¥64.3M | CN¥161M | CN¥149M | CN¥350M |
| Total debt | CN¥1.00M | CN¥55.2M | CN¥149M | CN¥182M | CN¥232M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hebei Hengshui Laobaigan Liquor 600559.SS | $1.64B | -12% | -17% | 11% | 30.7× | 14.2% |
| Kweichow Moutai 600519.SS | $272B | +5% | -4% | 65% | 21.7× | 0.7% |
| Wuliangye Yibin 000858.SZ | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% |
| Shanxi Xinghuacun Fen Wine Factory 600809.SS | $24.1B | -8% | -9% | 36% | 17.1× | 3.0% |
| Anhui Gujing Distillery 000596.SZ | $7.29B | -2% | -28% | 17% | 21.5× | 4.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 600559.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.3% | +1.7% | 6th highest of 21 |
| 6-month return | -11.8% | -7.1% | 8th lowest of 21 |
| Distance from 52-week high | -30.4% | -30.0% | 11th highest of 21 |
| Revenue growth (TTM) | -16.9% | -3.2% | 5th lowest of 21 |
| Operating margin | 11.3% | 11.2% | 11th highest of 21 |
| Forward P/E | 30.7× | 28.4× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 14.2% | 2.5% | 4th most demanding of 13 |
| Growth delivered (Del g) | +2.4% | +4.0% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | +11.9 pp | -0.7 pp | 3rd most demanding of 13 |
| ROIC minus cost of capital | +0.5 pp | -2.2 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hebei Hengshui Laobaigan Liquor 600559.SS | China | $1.64B | -12% | -17% | 11% | 30.7× | 14.2% | +2.4% |
| Anhui Kouzi Distillery 603589.SS | China | $1.65B | -22% | -19% | 13% | 22.9× | n/a | n/a |
| Shede Spirits 600702.SS | China | $1.61B | -24% | -10% | -1% | 53.4× | n/a | n/a |
| Jiugui Liquor 000799.SZ | China | $1.70B | -18% | +19% | -3% | 271.1× | n/a | n/a |
| Kuaijishan Shaoxing Rice Wine 601579.SS | China | $1.51B | +22% | +6% | 19% | 35.8× | 1.3% | +10.7% |
| Yantai Changyu Pioneer Wine 000869.SZ | China | $1.36B | -12% | -2% | 3% | 16.1× | 3.7% | -3.0% |
| Compania Cervecerias Unidas S.A. Sponsored ADR CCU | United States | $2.02B | -9% | +6% | 7% | 13.7× | 0.4% | +5.5% |
| Sichuan Swellfun 600779.SS | China | $2.06B | -13% | -30% | 20% | 46.3× | 16.6% | +0.1% |
| Allied Blenders and Distillers ABDL.NS | India | $2.10B | +24% | -20% | 11% | 63.5× | n/a | n/a |
| Tilaknagar Industries TI.NS | India | $1.27B | +3% | +150% | 10% | 50.4× | n/a | n/a |
| Jinhui Liquor 603919.SS | China | $1.27B | -6% | -2% | 11% | 36.1× | 14.6% | +10.9% |
| Boston Beer SAM | United States | $2.24B | +12% | -4% | 5% | 21.0× | 6.5% | +2.5% |
| Zhejiang Guyuelongshan Shaoxing Wine 600059.SS | China | $1.12B | -8% | -3% | 11% | 40.5× | n/a | n/a |
| Chongqing Brewery 600132.SS | China | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% | +6.2% |
| Guangzhou Zhujiang Brewery 002461.SZ | China | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% | +6.9% |
| Remy Cointreau RCO.PA | France | $3.08B | +30% | -5% | 16% | 29.2× | 17.0% | -1.5% |
| Hitejinro 000080.KS | South Korea | $846M | -3% | -5% | 7% | 13.2× | -4.6% | +2.1% |
| United Breweries UBL.NS | India | $3.33B | -17% | +7% | 6% | 65.9× | n/a | n/a |
| Royal Unibrew A/S RBREW.CO | Denmark | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% | +16.5% |
| ZJLD 6979.HK | Hong Kong | $3.41B | -3% | -29% | 13% | 27.6× | n/a | n/a |
| Treasury Wine Estates TWE.AX | Australia | $3.56B | +52% | -12% | 17% | 18.4× | 9.3% | -0.4% |